>> you're on booktv on c-span 2, want to introduce you to author elizabeth ames who has written a book with steve forbes, "how capitalism will save us: why free people and free markets are the best answer in today's economy" elizabeth ames, first of all, tell us about yourself and your personal experience, particularly when it comes to economics. >> i've been a finance journalist, but i've also been on both sides of the press release. so i started as a journalist and

have my own pr business and they've also done projects, communication projects with clients. among them, co-authored the book. basically i were to steve forbes and conversations led to the idea for this book. >> how did you meet steve forbes? >> i met him at an event i did when i was working in southern california and one thing led to another. i moved back to new york. i am from new york and started working at "forbes" of the pr department. >> elizabeth ames, or practical experience, how do that that? >> i've learned a lot since "forbes." when i sat "forbes" islandwide about markets. again, i began as a journalist and worked at "businessweek" many years ago as a journalist.

but when i started to work as an entrepreneur, i learned about the fact that you really need to have economic freedom to create jobs. something i learned personally. if you're obviously just getting a paycheck, you really don't understand how government can affect that firsthand. that was one of the things that led me to think this is a useful idea for a book. >> overall, philosophically, how do you see the role of government, the role of congress, the role of the president in the economy? >> basically this book raises and answers the question. we need government to create a stable environment for businesses to function and create jobs. when government battles too much in the economy, its policies are driven by politics and markets

are driven by individuals and the real world music people. that's the difference between what government does about markets do. you need government to protect us from fraud, from wrongdoers. there are wrongdoers the government can protect us from them. overly meddlesome government goes to fire and you end up suppressing enterprise and innovation and job creation. >> 2008 financial situation and the so-called bailout. are you supportive of that government intervention? >> release the question and answer of the book basically. you can see that as an emergency intervention. this government had done it back now, that would've been fine. unfortunately they stayed too long. the comparison they make is to

katrina. there's emergency aid and basically people get up and back on their feet. but unfortunately the government conceded the financial crisis as an excuse to expand itself and expand control of the economy. >> at what point would you say that government should have out as the emergency aid and click >> they did allow banks that wanted to pay the money. obviously they're making it difficult. they make and keep it it up for saddam those who didn't want bailouts in the first place. so basically, some people really have argued that the fact that the bailouts were necessary. but basically they went too far and certainly afterwards they use the financial crisis as an excuse to overregulate with

dodd-frank, et cetera. >> welcome we are interviewing u.s. freedom fries. do you find a lot of opposition to some of the ideas in the book? >> now, people are very much -- that's at this event is about. it's about three people and free markets and people understand what's in this book. the whole idea that you the needs of people by free enterprise. what is free enterprise? if people try to meet their needs and the needs of others. that's what it's about. they understand entrepreneurial business. they understand effect to create jobs not through government, better innovation. innovation has created the most jobs. the government and then the automobile? no. >> elizabeth ames, what it's like to write a book? >> is a great learning

experience and in a way that recertified higher education. customized and better. >> one of the themes we've been talking with authors here at freedom test about the moralism of a moralism about capitalism. is there a moral component interview? >> is the subject of the next book coming out at the end of the month -- the end of august. capitalism has moral because it's about getting real world needs another people and it's a free market transaction is a reciprocal exchange. the person provides benefits to the other. george gilder who i saw you interviewing talks about it as giving. each side gets to the other. so capitalism -- basically people who believe in big government via free market

transaction is a one-sided transaction that is each side its benefits. it may not be ideal, but there's benefit always in a transaction otherwise would not occur because it's in a free market. no one is forcing you to enter into this exchange and that's why there's benefits to both sides. if european forests, the unilateral transaction is one that takes place between the individual and government. >> was your enthusiasm of a enthusiasm for mitt romney that romney is a campaign? >> well, i think he's going to be a very good president. i think he gets it and i think he's moving forward in the same things we need to hear. >> you mention a new book coming out. with the title of that?

>> the new book is freedom manifesto, why free markets are moral and the government's army. >> is another grievance to "forbes"? recited over here. >> scratcher back over there. >> will show you the current book, how capitalism will save us. he was the new book by elizabeth ames, freedom manifesto and the subhead is >> by the government is sent. >> big government makes decisions and takes action based on political agenda, they sounded so foolish political. it's about meeting its own political selfish needs and free markets are meeting the real-world needs of people. >> is somebody who follows economics and former financial journalist and has opinions on this issue, bernie middaugh,

jamie diamond, in your view with those two treated fairly by the federal government? >> i would even put them in the same breath actually. i didn't bernie middaugh probably be deserved. he's a serial killer capitalism. you don't condemn a whole society of criminal elements and street crimes. you don't say everybody should be in jail because he thought criminals. there's bad people in all systems. the cap will assist in of a free-market system will channel people self-interest into the most construct of activity that benefit everyone. >> jamie diamond called before congress because his company lost money. >> there's a risk and market. he did a very good job in the series pushing back and explaining. that's really scary right now is

people who don't understand markets are like markets are demonizing risk when you invest money the whole point is you may or may not succeed and it may not work out. that unfortunately is what happened. if you don't have rescue don't have reward. all of these great companies today were at one time risky investments and they worked out. >> this is booktv on c-span 2 on location with freedom fest. we're talking with elizabeth ames, co-author of this book, "how capitalism will save us: why free people and free markets are the best answer in today's economy". and will be talking with her co-author as well about this book.

>> we don't know whether franklin roosevelt never heard about florence greenberg, unprecedented call for health care is right. even though he had endorsed the conference, he chose that time to go on vacation. fdr was actually on a cruise. i guess you can't blame him. three years earlier, after you refuse to include medical coverage as part of the social security act because he did not want to antagonize the american medical association. he did send a message of support, but not long after the outbreak of world war ii first

president's attention elsewhere. five years later in january 11, in a in a state of the union address, roosevelt spoke to the american people about the war and especially the piece the allies plan to establish after fascism. he said the one supreme object is for the future can be summed up in one word, security. that means not only physical security which provides safety from attacks by aggressors, and it's also economic security and social security. the individual political right upon which the united states had been built, was not argued, were necessary, but not sufficient to carry t. true freedom and security. fdr announced an economic liberates, which is sometimes called the second bill of rights. it included the right to a job and a living wage, direct

housing, education and security in old age and their right to adequate medical care in the opportunity to achieve and enjoy good health. so we cannot fdr mishearing florence greenberg speech, we here at kos and his second bill of rights. the idea of economic and social rights is an essential supplement to political right started as far back as the french revolution. the idea of a right to medical care was something much more recent. discussion of this kind of right became prominent in the 1930s and 40s, first of all because medical care itself was becoming more effective. it was starting matter much more in everyone's lives. by the 40s, the public knew about medical miracles that vaccination, penicillin, antiseptic surgery, treatments

that could save lives and even extend life. to withhold these miracles came to seem unjust. in medical care at this time is also starting to cost more than ever before. the average family cannot afford to pay for hospital stay or major illness or the birth of a child out of their wages. the medical care had become not just a matter of life and how. it was also becoming something that could cause serious financial hardship. that is why medical care became a matter of economic security as well as health security. in the u.s., demand for medical care is a social rights originated in the workers movements represented by people like florence crane heard. they next came to dominance in the proposed second bill of rig